The Ministry of Lands and Mineral Resources has awarded Vatukoula Gold Mines Limited (VGML) the tender for mineral exploration and possible development of the Mount Kasi Mineral Prospect located on Vanua Levu.
The successful candidate was selected after a rigorous and competitive tender process whereby 13 entities expressed interest in applying for the tender and 7 entities submitted their applications or tender bid by the tender closing date.
The tender process was facilitated under the authority of the Minister for Lands and Mineral Resources, Hon. Jone Usamate who convened a technical committee to evaluate the 7 tender applications received.
The objective of the tender process was to identify the most meritorious applicant with particular emphasis on proven mineral exploration and mining experience in addition to strong financial capacity and sound technical capability to undertake bona fide mineral exploration at Mt. Kasi.
The award of the tender does not necessarily result in award of exploration rights to VGML as the company now has to apply for a Special Prospecting License by fulfilling or meeting the Mineral Resources Department’s stringent mineral exploration tenement application process.